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Turkish central bank stuns market by hiking interest rates to 50%
(www.theguardian.com)
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this post was submitted on 23 Mar 2024
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I must be missing something (or it was a joke that went over my head, same thing really)
If I look up the conversion it currently says the 1 USD is 32 Lira.
Where are you getting the millionaire part?
Sorry 2005: https://en.wikipedia.org/wiki/Turkish_lira#
They made a revaluation.
This is the second Turkish Lira, since 2005 (TRY)
The 1965 Turkish Lira (TRL) got devalued so much that they had to redenominate. Similar to what happened to Pengő -> Forint in Hungary after WW1.
1 USD = 32M TRL 1 USD = 32 TRY